Hillary may raise up to $60 million in 1st Quarter Fundraising

Herman Munster

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Sat Mar-31-07 10:05 PM
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Hillary may raise up to $60 million in 1st Quarter Fundraising

http://commentisfree.guardian.co.uk/richard_adams/2007/03/the_money_shot.html

Come April 15, Hillary Clinton will top the money primary, thanks to Terry McAuliffe, the Democratic party's awesomely efficient fundraiser, a man famous for wrestling with alligators and singing onstage at a casino in order to secure donations. With the exception of Bill, McAuliffe is Clinton's biggest advantage in the campaign. In his memoir, What A Party, McAuliffe reveals his simple tactic: surprise your opponents by raising far more money than anyone expects. Easier said than done, but McAuliffe usually puts plenty of other people's money where his mouth is. Some pundits expect Hillary Clinton to raise around $30m in the first quarter. But if McAuliffe is true to form, expect a far bigger number: $40m or even $50m or $60m. Like George Bush in 1999, McAuliffe will be planning on raising a pile of cash so big it keeps her opponents awake at night. That isn't the public message though - an email from Clinton's campaign by Geraldine Ferraro, the first women to run as vice-president, tells supporters: "Don't believe it when you read Hillary doesn't need your contribution - trust me, she does."

Obama's campaign had a slower start, given his later entrance into the game. Rather than play the numbers game, Obama has banned donations from political action committees and lobbyists - and is instead aiming for donations from 75,000 individuals (restricted by law to maximum donations of $2300 for each stage). But he has been doing plenty of wooing wealthy donors: his fundraising chairman is Penny Pritzker, a well-connected member of the mega-rich Hyatt hotel family, and among Obama's supporters are billionaire investor Warren Buffett and Hollywood producer David Geffen, along with a tranche of dotcom millionaires from Silicon Valley.

The fundraising totals for the Democrats will most likely mirror the current standings: Clinton out in front, followed by Obama and Edwards. Any differences in that running order will create shocks, and the size of the gaps between the three will be closely scrutinised. If any of the other candidates (Bill Richardson or Chris Dodd, for example) put out a big number then that could keep them in contention - otherwise, the future is bleak, as potential backers desert them and the other long-shots. (There are, however, some cheap tricks the candidates can use to massage their totals.)

Similar calculations are taking place in the Republican party, which several campaigns also playing down expectations, in order to beat them when the results are announced. But because the final state of the Republican field is still unclear - potential candidates such as Newt Gingrich and Fred Thompson are undecided - there isn't the same sense of urgency.